Morning Report

The pair rushed to the upside to retest the previously breached minor support that held against the pair that forced it to decline. Stochastic is within overbought areas and might force the pair to decline supported by the MA 50. Therefore, we might witness an intraday downside move targeting 0.9565 and to return to the general downside move.

The trading range for today is among the major support at 0.9445 and the major resistance at 0.9770.

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

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Weekly Report

RecommendationBased on the charts and explanations above our opinion is opinion is selling the pair with hourly closing below 0.9645 targeting 0.9445 and stop loss above 0.9710 might be appropriate